Stocks tumbled last week as investors reconsidered their interest rate expectations after Fed Chair Powell’s Congressional testimony that rates may need to go

A late-week surge, triggered by reassuring Fed-speak, propelled stocks higher last week.

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Concerns over a firmer monetary policy were heightened by fresh economic data, touching off a climb in bond yields and a slide in stock prices last week.

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Growing concerns about further interest rate hikes, prompted by fresh economic data, reversed early-week gains and left stocks mixed for the week.

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In a holiday-shortened week, erratic trading left stocks marginally down for the week.

The Dow Jones Industrial Average lost 0.17%, while the Standard & Poor’s

Hawkish comments by the Fed and weak economic data heightened investors’ recession concerns and sent stocks lower last week.

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Recession fears and concerns that the Fed may consider a longer rate-hike cycle sent stocks lower for the week.

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Stocks ended higher last week as investors navigated the crosscurrents of a potential easing in future rate hikes and continued strength in the labor market.

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